Archive · 8 Oct 2026
ED Attaches 48 Maharashtra Properties in PACL Money-Laundering Case
The Enforcement Directorate, or ED, has attached 48 properties in Maharashtra.
They are worth Rs 567.45 crore and are in Mumbai, Pune and Raigad.
The case is about an investment scheme run by Pearls Agrotech Corporation Limited, known as PACL.
CBI charge sheets say the scheme collected more than Rs 48,000 crore from investors.
People were told they could buy or develop agricultural land.
The ED says that in most cases the promised land was not delivered, leaving about Rs 48,000 crore unpaid.
The agency alleges that money diverted from PACL was used to buy the properties.
The ED says it has attached assets worth about Rs 30,235.21 crore in this case so far.
These are allegations in an ongoing investigation.
The Enforcement Directorate attached 48 immovable properties in Mumbai, Pune and Raigad, valued at Rs 567.45 crore.
The properties are held by Prateek Kumar, his son Ansh Prateek Kumar, and three companies the ED says Kumar beneficially owns and controls.
The investigation concerns PACL’s collective investment scheme, which CBI charge sheets say mobilised more than Rs 48,000 crore from investors.
The ED alleges investors were promised the sale or development of agricultural land, but land was not delivered in most cases and about Rs 48,000 crore remained unpaid.
The ED says total attached movable and immovable assets in the case now amount to about Rs 30,235.21 crore, including assets in India and abroad.
- Who
- The Enforcement Directorate; the properties are held by Prateek Kumar, Ansh Prateek Kumar, Beaming Infradevelopers, Ganraj Properties and Greenfield Estates.
- What
- The ED attached 48 properties worth Rs 567.45 crore as part of its PACL-linked money-laundering investigation.
- When
- The announcement was reported on October 8, 2026; the ED says it registered an ECIR in 2016.
- Where
- Mumbai, Pune and Raigad, Maharashtra.
- Why
- The ED alleges the properties were bought with funds diverted from PACL’s investment scheme.
- Properties attached
- 48 immovable properties
- Reported value
- Rs 567.45 crore
- Locations
- Mumbai, Pune and Raigad, Maharashtra
- Scheme operator
- Pearls Agrotech Corporation Limited (PACL)
- Funds mobilised
- More than Rs 48,000 crore, according to CBI charge sheets
- Investors’ unpaid dues
- Around Rs 48,000 crore, according to the ED
- Total assets attached in the case
- About Rs 30,235.21 crore, including assets in India and abroad
- Legal basis
- The ED action is under the Prevention of Money Laundering Act; the investigation followed a CBI FIR alleging conspiracy and cheating.
